The two companies already share some overlap of clients, including both banks and credit unions.

“Finastra is always looking for ways to add business value for its client base by collaborating and integrating with innovative third-party fintechs. Fusion Phoenix with its open architecture, rich open REST-based API and fintech-friendly approach makes it very easy for fintechs to integrate with our core,” said Milind Pathak, Senior Director, Product Management, Finastra. “Leveraging ClickSWITCH, our Fusion Phoenix and Fusion UltraData core clients will be able to grow their deposits and increase customer engagement.”

ClickSWITCH provides a solution to financial institutions allowing customers to switch direct deposits and recurring payments in just a few minutes. The solution also enables financial institutions and fintechs the ability to fund new accounts and increase the profitability of new account holders.

“This integration will answer the request from ClickSWITCH clients for tighter integration with Finastra products to expedite the switching of direct deposits and payments,” commented Eric Edwards, Chief Revenue Officer for ClickSWITCH. “Additionally, the relationship enables us to remove onboarding friction for new customers of Finastra - for banks and credit unions - facilitating preferred financial institution status and encouraging customer loyalty more quickly.”